Daily News for Commercial Real Estate & Business – August 5, 2010

To view this weeks "The Watch List," by Costar, click here. The article, "Re-priced Assets Key to Commercial Real Estate Rebound" is a great read.

Kary Environmental buys warehouse Kary Environmental Services paid $696,800 for a 13,440-square-foot warehouse and industrial building in Mesa. View article...

Syntellect, Viking lease HQ space Two companies have signed leases at Corridors Phoenix, a business park located at the southeast corner of Interstate 17 and Pinnacle Peak Road near Deer Valley. View article...

Scottrade opening Surprise branch Scottrade, a online investing firm founded in Scottsdale, announced today that it will open an office in Surprise Aug. 16. View article...

Furniture Row comes to Tempe The first Furniture Row retail development in the Phoenix metro area will be built in Tempe at the northeast corner of Interstate 10 and Warner Road. View article...

Pinky's Cafe, Basis close up shop in north Phoenix Neighbors of a north Phoenix shopping center say they are sad to see established restaurants close, and hope management at the center will bring in new options. View article...

West Valley's Northern Parkway plan wins federal approval Northern Parkway, the planned high-speed, multilane roadway, has crossed the last hurdle of government approval, and construction is now a year away. View article...

Phoenix area 11th largest metro Nine U.S. metropolitan areas have populations above 5 million, but Phoenix has yet to hit the mark, landing at No. 11 with 4,500,239 people as of Wednesday. View article...

New Concepts Are Back on the Agenda for Some Retailers Landlords on the prowl for new tenants have reason for optimism. View article...

Barnes & Noble for sale Barnes & Noble announced Tuesday it is putting itself up for sale, after seeing its stock price depressed by the gathering momentum of digital book sales. The company's value is now $755 million, representing a 37 percent slide since it announced in June that its 2011 profits were threatened. View article...

CMBS Delinquencies Surpass $60B CMBS delinquencies rose again in recent months, according to reports from Trepp LLC and Realpoint LLC, two research firms tracking the sector. Total delinquencies now amount to more than $60 billion, according to Realpoint. View article...

Global Property Sales Soar in First Half of 2010 as U.S. Deals Rebound A new report on global commercial property transactions shows that sales of major properties valued at $10 million or more surged in the first half by 75% compared with the same period in 2009. View article...

Surge in Loan Workouts is Healthy Sign for Distressed Real Estate The worst of the debt crisis may be over for the commercial real estate industry. Several measures suggest that the pace of loans newly classified as delinquent, in default or foreclosure has slowed and lenders are gaining ground in their efforts to resolve problem debts. View article...

If you want a copy of the latest foreclosure spreadsheet, email me and I will send it to you.

Feel free to contact me regarding any of these stories, the current market, distressed commercial real estate opportunities or your property.

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